POTW | Maple Grove

By David Arbit on Monday, August 15th, 2016

pickoftheWeek_FBpic

 

 

 

 

Maple Grove is one of the more sought-after northwest metro locations. With an excellent array of housing products that span the spectrum from affordable townhomes to some of the most luxurious single family castles, Maple Grove attracts families and individuals from all walks of life.

One common comparison among home shoppers might be Maple Grove versus Plymouth. As seems clear from the chart above, it appears as though Plymouth home values have really taken off and separated from Maple Grove since 2011. But we know that a good share of Plymouth’s recent sales have been new construction. So it makes sense to rule those out, unless of course we’re shopping in that segment.

Simply by applying a “previously owned” filter under “construction type” at the top of the interface, we can exclude new construction from both areas in our line graph. This creates a more apples-to-apples or previously-owned-to-previously-owned type of comparison, which means better results and more sound decision making.

Taking this one step further, say we know that Plymouth tends to have slightly larger homes that sell in a given month. In light of that, and to preserve our commitment to apples-to-apples comparisons, perhaps we should only compare the value on a per square footage basis between Plymouth and Maple Grove. With many variables neutralized or corrected (such as a new construction and larger home bias in Plymouth), we can see that the real differences between these communities aren’t as great as they appeared at first. Buyers can expect to pay about an extra $10 per foot to be in Plymouth, or they can save $10 per foot to live in beautiful Maple Grove.

 

Comments

      Add a comment

      Your email address will not be published. Required fields are marked *

Subscribe